The Palatka daily news. (Palatka, Fla.) 1884-1888, 1887-06-11
DUN l. cos REPORT.


speculation ana L3boT SOutests.
NEW YORK, June 1O.-R- j. Dun
& Co.'S weekly review of trade says:
But for the labor contests and excessive
speculation the outlook would be entirely
satisfactory. The crop prospects and
financial situation have both improved
during the past week, but the effect Of
important strikes is felt more seriously
every week as the resources of the idle
workingmen became exhausted, and the
consumption of products by their
families and by the various manufac-
turers Indirectly affected, is diminished.
How great the disturbance of trade and
production which may result from a
single strike is forcibly illustrated by re-
turns of the iron furnaces in blast June
I. Pittsburg accounts usually differ
little from those published here, but this
month the statements vary widely,
the Iron Age making the weekly out
put up to June l about 81 ,615 tons, or
q per cent less than May 1, while the
Pittsburg statistics forwarded by our
correspondent make the decrease 30, ,605
tons. Either statement represents a re-
markable decline in output from 5000
600 to $3.50, 900 in value of the weekly
production, and to this must be added
the decrease in many important branches
of manufacture which depend for ma
terial upon the furnaces now IDLE. In
spite of the great decline in the produc-
tion, the prices of iron have been weaker
1nrIup tho xxAaE hna SaI.N nf
Southern ironh aving been made in East
ern markets.
The stove business is re~iving, the lock
out of moulders having terminated, but
the nail market is demoralized by over
production. The demand for bar iron is
better but prices are depressed by West
ern competition, and the Offering of
foreign rails at low figures checks the de
mand near seapOrts. Wheat speculation
seems weaker, though prices, after ris-
ing to nearly 81 for No. ? red, have not
quite declined to the last weeks level.
Crop reports from all directions are ia
vorable and the accumulation of $500
cars about Chicago. still loaded because
wheat room is scarce in the elevators,
gives point to the observation that a
great quantity of wheat seems still to be
left on farmers hands. Official reports
show that net exports are equivalent to
125, 167, s4s bushels i'm the month ending
with April, with probably IL 100000
more in May. but the exports bid fair to
fall below those of last June.
In that case the surplus to be carried
over July 1 will probably exceed $1,000
900 bushels i'm addition to the minimum
always held. Sales have been only 26,-
900, 900 bushels here, but Chicago ex-
change to New York, still 40 to 30 cents
discount, shows that Spectators are
preventing the natural movement of
money Eastward at this season. Ac-
counts from various sections continue to
be almost uniformly favorable. Rain
has helped the farmers throughout the
Northwest.
The stove molders have resumed
work at Detroit, though the builders,
strike continues at Chicago. Money is
reported in good supply at all points and
collections everywhere good or fair, with
improvements in some localities. The
Southern reports show natural dull
ness i'm trade but confidence i'm an early
and prosperous fall business. From
Northwestern points great activity is
everywhe reported.
The business failures occurring
throughout the country during last week.
as reported to r. G. Dun & Co., number
70. b.. q
total 113; against $50 last week and 40
for the week previous. In the Eastern
and Middle States failures are excep-
tionally light; in the other sections about
the average number are reported. but in
Canada there is a considerable increase.
occurring mostly in the maritime prov
inces.